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China investing $30 billion in India

India should be “much more relaxed” in its approach to Chinese investments y and get rid of “needless” restrictions, Environment Minister Jairam Ramesh said.

“We are imagining demons where there are none,” he added.

Ramesh's comments came in the context of recent reports that India had barred import of telecom equipment from major Chinese firm Huawei, especially in the border areas following security concerns.

"China is implementing projects worth over USD 30 billion [in India] but unfortunately the controversy over Huawei has overshadowed the whole issue of Chinese investments," Ramesh said.

"We have a huge trade deficit with China. But we are still suspicious of Chinese investment in India," he added.

See Outlook’s report here.

In 2010, China emerged as India’s biggest trading partner with a trade volume of $61.7 billion - nearly 20 times what it was 10 years ago.

Even as it opposes the Chinese involvement in infrastructure projects in Pakistan-occupied Kashmir (PoK), New Delhi is said to be keen to obtain Chinese investments in the fast-growing infrastructure sector in India.

“We would like China to play a role in infrastructure development in India,” informed sources told The Tribune, emphasising that the Indian infrastructure sector would require at least $1 trillion worth of investment in 2012-2017.

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